BMI View : Over our 10-year-forecast period Ghana's construction industry will average annual growth of 6.1% in real terms, driven by investment in energy and transport infrastructure. Minimal growth will be recorded in 2016 but figures will rise throughout our forecast period as the market emerges from a recession. The government has made significant strides in tackling its fiscal deficit, which will help to attract much-needed foreign investment, particularly in the ailing power sector.
We continue to forecast 2.1% real growth over 2016, 5.2% over the next five years and 6.1% over our full 10-year forecast period up to 2024.
Investment into the energy and transport sectors will be the main drivers of growth, where plans to tackle infrastructure deficit are underway.
Ghana has successfully adhered to the terms of its second review under its International Monetary Fund programme, which signals improved fiscal spending, making the market more attractive to foreign investors.
|f = BMI forecast. Source: Ghana Central Bank, Ghana Statistical Service, BMI|
|Construction industry value, GHSbn||14.77||16.61||19.15||22.03||25.48||29.41||33.93|
|Construction Industry Value, Real Growth, % y-o-y||0.00||-3.97||2.11||4.16||5.99||6.67||7.37|
|Construction Industry Value, % of GDP||12.9||12.1||11.7||11.5||11.4||11.3||11.4|
Ghana ranks 10th out of 16 countries in our SSA Risk/Reward Index, with an overall score of 38.2 out of 100.
There are numerous public-private partnerships in the works, which will help to attract further foreign investment, though the act has not yet been finalised by the government.
Load shedding and blackouts remain a deterrent to entering the market, though the government is rolling out a short-term diversification strategy, focusing on renewable energy to tackle the deficit.
|Risk/Reward Index||Rewards||Industry Rewards||Country Rewards||Risks||Industry Risks||Country Risks|
The Ghana Infrastructure Report features BMI Research's market assessment and forecasts covering public procurement and spending on all major infrastructure and construction projects, including transportation and logistics by land, sea and air; power plants and utilities, and commercial construction and property development. The report analyses the impact of regulatory changes and the macroeconomic outlook and features competitive intelligence on contractors and suppliers.
BMI's Ghana Infrastructure Report provides industry professionals and strategists, sector analysts, investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Ghanaian infrastructure and construction industry.
- Benchmark BMI's independent infrastructure industry forecasts for Ghana to test other views - a key input for successful budgetary and planning in the Ghanaian infrastructure market.
- Target business opportunities and risks in the Ghanaian infrastructure sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Ghana.
- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).
BMI Industry View
Summary of BMI’s key industry forecasts, views and trend analysis covering infrastructure and construction, regulatory changes, major investments and projects and significant national and multinational company developments. These are broken down into construction (social, commercial and residential), transport (roads, railways, ports, airports, etc), and energy & utilities (powerplants, pipelines and so on).
Industry SWOT Analysis
Analysis of the major strengths, weaknesses, opportunities and threats within the infrastructure and construction sectors and within the broader political, economic and business environment.
BMI Industry Forecasts
Historic data series (up to 2012) and forecasts to end-2024 for all key industry indicators, supported by explicit assumptions, plus analysis of key developments in the market and risks to the main forecasts. Indicators include:
Construction: Industry value (USDbn); contribution to GDP (%); total capital investment (USDbn); real growth (%).
Construction industry real growth forecasts (%) and industry value (USDbn) forecasts for industry sectors are split into Residential and Non-residential and Infrastructure sectors. Where the data is available for particular countries the infrastructure is further broken down into indicators for the transport subsectors of roads, railways, airports and ports and the energy and utilities sub-sectors of power plants and transmission grids, oil & gas pipelines and water infrastructure. This dataset is unique to the market.
The reports also include analysis of latest projects across the infrastructure sectors (transport, utilities, commercial construction).
BMI’s Infrastructure Risk Reward Index
BMI’s Risk Reward Index provides investors (construction companies, suppliers and partners) looking for opportunities in the region with a clear country-comparative assessment of a market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic data points. These provide indices of highest to lowest appeal to investors, with each position explained.
An assessment of the competitive landscape and key challenges to entering the market. Details of the largest companies active in the sector across the sub-segments of the industry, including the key financial figures from some of the largest players in the sector.
Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI’s industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate company SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.
The Infrastructure reports draw on an extensive network of primary sources, such as multilateral organisations, government departments, industry associations, chambers and company reports.
*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.